Panama Ship Registry grows 4.1pc in first year under new administration

THE Panama Ship Registry has grown by 4

16 July 2020 - 19:00

THE Panama Ship Registry has grown by 4.1 per cent during the first year of its new administration, the Panama Maritime Authority's (AMP) press release has announced.

'The AMP objective has been achieved, thanks to the renovation that has taken place, by making significant changes in its processes such as: the reengineering of the structure and processes within the Directorate General of Merchant Marine,' it said.

The Directorate General of Merchant Marine that oversees the Ship Registry is now customer-focused and has innovated and modernised its systems of procedures to streamline and improve different working methods, ensuring better customer service; international compliance and an aggressive and active international marketing plan, it said.

During this first year the Panamanian fleet has seen an increase of 8.5 million gross tonnes of growth and a third of new registrations being newbuilds financed by international banks that continue depositing their confidence in Panama as a maritime centre with competitive advantages.

The Ship Registry is state owned which offers security, flexibility, discounts, sustainability and a network of global offices to its customers.

'The Panama Ship Registry has taken a turn and is beginning to strengthen its registry business, with a view to reinforcing its position as a world leader,' said Rafael Cigarruista, director general of Panama's Merchant Marine.

'To maintain our leadership, indicators and measurements have been established in the procedures. The goal is to bring fresh tonnage and the number of ships needed to maintain the sustained growth that the registry had lost in past years,' Mr Cigarruista said.

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